BEIJING, Dec. 19, 2024 /PRNewswire/ -- Twenty-five years. That's how long it took Macao to place itself among Asia's wealthiest cities and the world at large.
The GDP of China's Macao Special Administrative Region (SAR) in 2023 stood at 379.5 billion MOP (about $47.5 billion), a sevenfold increase from 1999, the year Macao returned to China.
Macao is "a pearl on the palm" of the motherland, said Chinese President Xi Jinping on Wednesday when he arrived in the city on a special plane to celebrate the 25th anniversary of Macao's return to China.
Over the past 25 years, the practice of "One Country, Two Systems" with Macao characteristics has achieved success and is widely recognized by the world, showcasing great vitality and unique charm, President Xi said at the airport.
The 'pearl' of China
Approximately 2.8 billion inbound and outbound trips between the Macao SAR and the neighboring city of Zhuhai have been made since Macao's return to the motherland, according to data released by the Zhuhai Customs on December 17.
The number of checkpoints linking the Macao SAR and Zhuhai has also grown from just two in 1999 to seven currently.
Hengqin Port is one of the busiest checkpoints. Hengqin island is home to the Guangdong-Macao In-depth Cooperation Zone, which was established in 2021 by the Chinese central government to foster closer integration between the two regions. The zone has become a hub for innovation and entrepreneurship, hosting nearly 6,500 Macao-invested enterprises and providing a platform for new industries.
Since its return, the central authorities have strongly supported the SAR, including creating a slew of policies to actively integrate the SAR into the national development. These efforts have transformed Macao into a modern, international metropolis with remarkable progress in both economic development and people's livelihoods.
Macao's achievement "is the glory of Macao residents and the pride of all Chinese people," President Xi said upon his arrival on Wednesday, expressing confidence in its promising future.
According to official reports, President Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, will attend a gathering celebrating the anniversary and the inauguration ceremony of the sixth-term government of the Macao SAR on Friday.
President Xi is also expected to inspect the 33-square-kilometer SAR. In his speech at the airport, Xi said he will have "extensive and in-depth exchanges with friends in Macao" on the region's development during his visit.
He also expressed the belief that Macao will create an even brighter future by fully leveraging the institutional advantages of "One Country, Two Systems," working hard and actively promoting innovation.
For more information, please click:
https://news.cgtn.com/news/2024-12-18/President-Xi-Jinping-delivers-speech-upon-arrival-in-Macao-SAR-1zqWeketB72/p.html
View original content:https://www.prnewswire.co.uk/news-releases/cgtn-chinas-pearl-how-macao-thrives-since-its-return-25-years-ago-302335938.html
